Question

The average college student graduated with $27,200 in debt (The Boston Globe, May 27, 2012). Let debt among recent college graduates be normally distributed with a standard deviation of $7,000.
a. What is the probability that a recent college graduate has debt of less than $25,000?
b. What is the probability that a recent college graduate has debt of more than $30,000?
c. What is the amount of debt that places a recent college graduate in the bottom 10% in terms of debt?
d. What is the amount of debt that places a recent college graduate in the top 15% in terms of debt?



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  • CreatedJanuary 28, 2015
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